POPA ReconPapertrade hacked for $ 1.28M
Papertrade hacked for $ 1.28M - A quant trader with $13M+ all-time PnL manipulated Papertrade’s oracle by executing massive ETH buys/sells on Hyperliquid to briefly move its price, profiting $1.73M gross on timed long/short flips before a final $450k liquidation left $1.28M net. - The attack involved 305 trades (296 wins) over 8 hours, with average 98-second holds: open $200M+ Papertrade positions, manipulate Hyperliquid price within seconds, close for profit, and reverse direction repeatedly. - Papertrade prices directly off Hyperliquid’s ETH spot at the exact second, making it vulnerable t…
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